Bill.com Announces Partnership With Mastercard to Offer Faster, Automated Payments for Small and Midsize Business Customers
Summary
The addition of Mastercard virtual cards adds a new electronic alternative to checks as Bill.com continues to digitize payments. Small businesses still pay 80% of their invoices with paper checks, whereas virtual credit card payments offer an efficient, alternative way forward – minimizing the costs, time and manual labor associated with paper-based processes. Our goal to enable automated electronic disbursements and collections is completely aligned with Mastercard’s vision of a world beyond cash and checks,” said Bora Chung, SVP of Product at Bill.com. With the partnership with Bill.com, we can bring the benefits of virtual cards to hundreds of thousands of smaller enterprises in the United States,” said Ginger Siegel, North America Small Business Lead at Mastercard. Bill.com partners with the largest U.S. financial institutions, more than 70 of the top 100 accounting firms, major accounting software providers including NetSuite, Intacct, QuickBooks and Xero, and is the preferred provider of digital payments solutions for CPA.com, the technology arm of the American Institute of CPAs (AICPA).